The final frontier

Single-dealer platforms

The decision to provide a proprietary single-dealer e-trading platform for a bank's clients is based upon the belief that it can furnish a different level of service than is available anywhere else on the Street. Those shops that have taken this route -Barclays and Deutsche Bank, for example - believe that this criterion has been fulfilled. But what is also clear is that the volume of pure credit products traded on single-dealer systems remains a fraction of the entire market.

In the last 10 year